Gold Price’s Three Month Fall Is First in 11 Years

May 3, 2012byDaniel Ford

The price of gold has fallen for three months straight—the first time that has happened in 11 years, experts said.

“Such an extended fall is unusual,” according to Reuters. “Prices have not fallen for three straight months since [the three months prior] to May 2000, before the start of a rally that took gold from around $250 to nearly $2,000 last year.”

On Feb. 1, the price of gold traded at $1,740 an ounce. It began March at $1,714, and by April, it had fallen to $1,677. April was the third down month; by May 1, the price was stalled at $1,664. Overall, the price has dropped a little more than 4 percent in the past three months.

Analysts note the price of gold remains at historically high levels, and is still up for the year. It is currently trading at $1,637 an ounce, up from the $1,598 it registered on Jan. 1.

Meanwhile, the price of gold continues to top that of platinum, which is currently trading at $1,532 an ounce.